Aramark Enters Strategic Collaboration With Starr Restaurant

Aramark ARMK has entered into a strategic collaboration with the Philadelphia-based Starr Restaurant Organization. The financial terms were not disclosed.
The parties will drive culinary innovation through the collaboration designed to provide the best hospitality experiences for Aramark clients.
An exclusive licensing agreement will allow Aramark to operate designated Starr concepts and brands within multiple lines of its business.
The collaboration will also lead to Aramark acquiring a minority ownership position in Starr Restaurants.
Price Action: ARMK shares are trading lower by 0.11% at $35.43 on the last check Tuesday.